Boy Scouts of America Files for Bankruptcy Protection
Boy Scouts of America has filed for bankruptcy protection.
It comes at a time when the organization faces hundreds of sexual abuse lawsuits.
Boy Scouts submitted the filing early Tuesday morning in Wilmington, Delaware.
It lists liabilities of $100-$500 million
As a result of the filing, all civil litigation against the organization is suspended.
Hundreds of lawyers were seeking settlements from BSA on behalf of several thousand men who say they were molested as boys by scout leaders.
Now the organization could be forced to sell off some of its vast property holdings. That would raise money for a compensation fund that could surpass $1 billion.